Brian Lenihan Jnr (Dublin West, Fianna Fail)

As far as vested interests are concerned — Deputy Burton is very fond of insinuating vested interests in public debate — I act in the public and national interest, nothing else, in this matter and if there are questions of detailed negotiations to be conducted, they are referred to the National Treasury Management Agency.

The question of private equity, which is an important subject, was mentioned by a number of speakers in the debate. Banks are approached all the time by private equity investors and they draw their own conclusions about them. Were private equity to be involved in the recapitalisation now under way, it would have to act in terms in accordance with the public interest and the fundamental importance of retaining a viable, sustainable banking sector here in Ireland for the long term. There is no question about that. With regard to credit for small and medium sized businesses, I thank Deputies for their views. They are the same as that of Government and have been fully factored into the negotiations.

A number of Deputies referred approvingly to the Swedish model. Deputies should be aware of the facts relating to the Swedish model. It was a total nationalisation of the bank sector. A total nationalisation of our banks——

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